Vietnam will seek a free trade agreement with the UAE once its trade with the UAE increases substantially from the current Dh440 million, according to Do Nhu Dinh, Vietnamese deputy minister for trade.
Do Nhu Dinh yesterday opened the Vietnam Trade Centre in Dubai - its first in the region - at an event attended by Abdul Rahman G. Al Mutaiwee, director-general of the Dubai Chamber of Commerce and Industry (DCCI) and Jamal Majid Bin Thanaiah, managing director of the Dubai Ports Authority (DPA).
The trade centre is located in a 3,400 square foot office in the Al Abbas Building in Bur Dubai. Vietnam's trade with the UAE last year rose 62 per cent to $120 million, including Vietnamese exports worth $66.3 million.
"As our trade with the UAE grows, we will seek preferential trade ties, possibly a free trade agreement in future. The new trade centre is our first step in accelerating our trade with the UAE."
Al Muttaiwee said, "The Vietnam Trade Centre is the 60th in Dubai."
Vietnam's GDP last year grew 7.24 per cent to $40 billion.
It has attracted $42 billion in FDI since the enactment of the investment law in 1987. Of this, projects worth $22 billion have been implemented and are operational.
Gulf News
